“This truly is my favorite event,” Montecito Bank & Trust Chairman Michael Towbes said. “Our goal, through the Community Dividends, as well as our overall philosophy of giving back to the community, is to make the communities we serve better places to live and work.”

The afternoon luncheon held at the La Pacific Ball Room commenced with a jovial networking reception on the oceanside terrace followed by a Thanksgiving-themed lunch and introductions from bank leaders before the distribution of the Community Dividends.

Towbes and Chief Executive Officer/President Janet Garufis greeted guests for the kickoff of the holiday season of giving and goodwill when many nonprofits are dealing with budget shortfalls, especially during these uncertain economic times.

“There are a lot of reasons this is really critical. Especially in the last few years we’ve seen how the need has increased, so we’ve given to more organizations fewer dollars, but we’ve tried to spread it around a little bit,” Garufis said. “We’ve heard from organizations that it’s been really extraordinary help in times when it was really needed to have totally unrestricted grants.”

“Court Appointed Special Advocates is so incredibly grateful to the Towbes family, Montecito Bank & Trust and the Community Dividends Program,” she said. “The ongoing support that CASA has received from this amazing program has provided advocates to children and changed countless lives. Children right here in our community have been touched and changed thanks to Community Dividends. This program has also inspired others to give to CASA as well as spread the word about the important work that CASA does.”

The bank regularly receives nearly double the number of applications for the annual Community Dividends awards, and under its Subchapter S status, the bank can award money that would have been paid to taxes. This year, the program received 311 applications, and the most nonprofits ever — 180 — were invited to the event.

“Last year we covered the funeral costs of a fellow student, Sergio Romero, who was killed on Milpas Street, so that his parents would not have to shoulder the financial burden, and we also paid for an electric cart for a student with a rare skin disease called epidermolysis bullosa,” Lund said. “We raise funds through corporate and individuals donations, which is why we are so grateful to Montecito Bank & Trust for the $2,500 grant that we are getting. It’s really going to help us benefit kids in our community and kids worldwide.”

“There’s a tremendous need in the nonprofit community for this kind of support,” Towbes said. “And this is particularly important to me this year because this is the 10th year that we’ve done that, which means that by the end of the day we will have given $10 million to support nonprofits in Santa Barbara. And all I can say is, wow, that’s very special.”

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